Snapchat Valued at $10 Billion After Raising $20 Million From Top VC

Snapchat joined the $10 billion startup club, alongside the likes of Uber and Airbnb, according to a Wall Street Journal report. Silicon Valley investment house Kleiner Perkins Caufield & Byers invested in the messaging app based largely on its huge user base, 100 million per month, the Journal said.

The user count is a big leap from what data companies have been able to report. The most recent comScore stat estimated that Snapchat has 27 million monthly visitors in the U.S. aged 18 and older. But those figures didn't include teens and overseas users.

Snapchat joined the $10 billion startup club, alongside the likes of Uber and Airbnb, according to a Wall Street Journal report. Silicon Valley investment house Kleiner Perkins Caufield & Byers invested in the messaging app based largely on its huge user base, 100 million per month, the Journal said.

The user count is a big leap from what data companies have been able to report. The most recent comScore stat estimated that Snapchat has 27 million monthly visitors in the U.S. aged 18 and older. But those figures didn't include teens and overseas users.